Iran, Russia can thwart Western sanctions by improving energy, oil cooperation: Minister

Russian Energy Minister Nikolai Shulginov says Russia and Iran can counter the West’s sanctions by further strengthening bilateral economic cooperation, particularly in the oil and energy sectors.

In a meeting with Iranian Ambassador to Moscow Kazem Jalali on Friday, Shulginov hailed the positive mutual relations and expressed hope that the two countries would take steps towards the expansion of ties, particularly those in the economy sector.

Moscow is keen to boost ties with Tehran and hopes that the two sides will be able to advance relations during the tenure of Iranian President-elect Ebrahim Raeisi in an effort to jointly counter the West’s sanctions, he added.

He noted that Iran and Russia are currently implementing joint projects in the oil, gas, energy, railway and peaceful nuclear energy fields.

Pointing to the construction of Sirik Power Plant in southern Iranian Hormozgan Province in cooperation with Russia, the energy minister expressed hope that sanctions against the Islamic Republic would be lifted to help the country achieve more progress and development.

Late in February, the Russian government issued banking guarantees for a loan of $1.2 billion to be used for the construction of the project.

The funding is part of a wider package of loans worth $5 billion that will be used by Iran for several key infrastructure projects in the country.

Russia’s Power Machines has been contracted by Moscow to use Russian funds to build the 1.4 gigawatt thermal power plant in Sirik.

President Hassan Rouhani said last month that Iran has started constructing two new nuclear power plants in cooperation with Russia, praising the close relations that the two sides have forged in various fields, especially defense, besides the energy sector.

Rouhani: Iran building two nuclear power plants in cooperation with Russia

President Hassan Rouhani says Iran has started constructing two new nuclear power plants in cooperation with Russia.

Before issuing the order to start the construction of 1400-mgw Sirik Power Plant, Rouhani said the project, which is also joined by Russia, is of great importance due to the “friendly and close” ties between Iran and its northern neighbor, the Russian Federation.

Jalali, for his part, said Tehran and Moscow are determined to enhance relations and added that the next Iranian administration would certainly heed fostering solidarity and convergence with Russia.

He added that the two countries are working on important energy projects including the Sirik thermal power plant.

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